Developers in Minnesota and around the country are watching closely to see if Congress closes the nation’s budget deficit and delivers tax cuts by ending subsidies they have used to build housing and workplaces.

Dominium passed a milestone recently in its long-running effort to redevelop St. Paul’s Schmidt brewery when it signed a term sheet for the sale of the project’s affordable housing and historic tax credits.

Affordable housing developers are waiting nervously for the congressional “supercommittee” to decide how much deficit reduction will come at the expense of their main funding source, the federal low-income housing tax credit program.